February 27, 2012
- in Uncategorized by schooloftrade
Euro day trading strategy uses multiple timeframes
Euro day trading strategy uses multiple timeframes and we
can see the trend lines overhead as resistance along with the PHOD and AB=CD reversal-zone. We can see the PLOD as support below us and
the trend lines line up on top of the trigger-zone support so we have our
support and resistance well defined now we need something more refined to help
us with exact entries stop loss and targets.
can see the trend lines overhead as resistance along with the PHOD and AB=CD reversal-zone. We can see the PLOD as support below us and
the trend lines line up on top of the trigger-zone support so we have our
support and resistance well defined now we need something more refined to help
us with exact entries stop loss and targets.
Our faster timeframe 55 range chart on the euro shows us the
bull price channel, the PHOD and PLOD and the trend lines that make up the price
wedge we want to use this morning. We can see a euro 55 range wave long will
trigger when the momentum indicator curls higher.
bull price channel, the PHOD and PLOD and the trend lines that make up the price
wedge we want to use this morning. We can see a euro 55 range wave long will
trigger when the momentum indicator curls higher.
If price rises I’m looking to enter pullbacks when the 55r
wave trigger long, taking profit at the price wedge highs. If price moves higher I will take profit at price
wedge highs and sell the highs of the price wedge. If we break price wedge highs I will sell price
channel highs which are just above it. If
price falls I’m buying the trigger line 1.3375 and the PLOD as support and if
price keeps falling I’m buying the trigger-zone lows 1.3110 and the price wedge
lows with the trend line.
wave trigger long, taking profit at the price wedge highs. If price moves higher I will take profit at price
wedge highs and sell the highs of the price wedge. If we break price wedge highs I will sell price
channel highs which are just above it. If
price falls I’m buying the trigger line 1.3375 and the PLOD as support and if
price keeps falling I’m buying the trigger-zone lows 1.3110 and the price wedge
lows with the trend line.
A much faster 34
range chart further-refines our day trading strategy on the euro and now we can
see exact where we want to enter, exit, and the best specific locations for our
trades today. We can add 2 new support
trend lines on this 34range, and can see a new bull price channel. We locate the new trigger-zone from the
medium swing low up to the most recent swing high, and this gives us more
confidence that if price moves higher we are buy pullbacks using the 55 and 89
range charts with their wave patterns as a big buying clue.
range chart further-refines our day trading strategy on the euro and now we can
see exact where we want to enter, exit, and the best specific locations for our
trades today. We can add 2 new support
trend lines on this 34range, and can see a new bull price channel. We locate the new trigger-zone from the
medium swing low up to the most recent swing high, and this gives us more
confidence that if price moves higher we are buy pullbacks using the 55 and 89
range charts with their wave patterns as a big buying clue.
Our day trading strategy for the euro is very simple, as
price rises I’m selling the HOD and the price wedge highs with the price
channel highs. As price moves lower I
want to buy the trigger-zone support and the PLOD as 1.3358 and if price moves
below the trigger-zone support we may or may not have enough ROOM to enter a
short trade. You will see the bull price
channel below us it all depends on WHEN it breaks the PLOD if we have enough
room.
price rises I’m selling the HOD and the price wedge highs with the price
channel highs. As price moves lower I
want to buy the trigger-zone support and the PLOD as 1.3358 and if price moves
below the trigger-zone support we may or may not have enough ROOM to enter a
short trade. You will see the bull price
channel below us it all depends on WHEN it breaks the PLOD if we have enough
room.
I want to buy the price channel lows as support and buy the
support levels below the price channel as additional reversal points. This 21-range chart shows us the short term price
wedge and at the same time we notice the dollar index is also trading very
similarly to the euro with price wedge of its own.
support levels below the price channel as additional reversal points. This 21-range chart shows us the short term price
wedge and at the same time we notice the dollar index is also trading very
similarly to the euro with price wedge of its own.
When price rises above 1.3418 we will be looking for the 55
and 89 wave patterns for buying opportunities but make sure the momentum
indicators confirm and the market personality is favorable.
and 89 wave patterns for buying opportunities but make sure the momentum
indicators confirm and the market personality is favorable.
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| Euro Day Trading Strategies |
